Pi Network Introduces Lockup Feature for Boosted Mining Rewards
Pi Network has introduced a new blockchain lookup feature for its users to benefit with boosted mining rewards. As of July 5, 2024, pioneers who have migrated their Pi tokens to the Pi Mainnet can now leverage an innovative lockup feature directly on the blockchain.
According to the official post from Pi Core Team, this new functionality allows users to securely lock up their migrated Pi tokens and enhance their mining rates based on the lockup rewards. This integration was outlined in Pi Network’s 2021 whitepaper and now it is deployed ahead of the Altseason.
The team describes that accessing the lockup feature is seamless. Users could simply navigate to the “Lockups” section within the Pi Wallet and select “Create New Lockup.” Once set, the lockup is binding until the chosen duration concludes. The boosts in mining reward will take effect in the very next mining session, offering an immediate benefit to participating pioneers.
One of the standout benefits of this feature is the ability to lock up to 200% of currently migrated Pi tokens. This maximization not only increases individual rewards but also supports the broader growth of a utility-driven ecosystem as Pi Network advances toward an open network phase.
By engaging with this lockup feature, pioneers contribute to a stable and thriving network environment while unlocking significant mining benefits.